When it comes to deducting mortgage interest on your home, the tax law is pretty straightforward. But when it comes to deducting mortgage interest on your rental property, it’s a different matter entirely. You see, Uncle Sam has set some traps for you that can cost you big time. Want to learn how to avoid three major rental-property interest-deduction traps and come out … [Read more...]
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How seller financing can make you a fortune!
If you’re considering selling a rental property or your home, your first instinct may be to require an all-cash offer. But this may not be the best way to go. You see, if you finance the deal yourself, you could come out a whole lot better. My advice? Keep an open mind and read my new article titled Tax Tips: Use Seller Financing to Create Wealth. Three ways our … [Read more...]
What rental-property owners should know about seller financing?
Thinking about selling your rental property? Then consider financing the deal yourself. (Real-estate pros call this arrangement a “seller take-back.”) If you’re worried about a buyer not paying up, you should know that a default can actually be profitable for you. Here’s some good advice… read my new article Tax Tips: Cash In When the Buyer Defaults on Your Seller … [Read more...]
Here’s a great idea for rental property owners!
If you’re a rental property owner you’re probably aware of two important facts: FACT #1: Your rental property provides you with a nice tax shelter when you deduct your losses against your other income. FACT #2: In order to deduct those losses, you have to pass Uncle Sam’s 750-hour test. What you might not know is that your home office can help you pass that important … [Read more...]
Turn your rental property into an IRS-approved tax shelter
Here’s good news for rental property owners… If you know the tax law, and avoid dangerous IRS traps, your rentals can provide you with tax shelters that can save you a lot of money. Want to find out how to win the game and still stay in Uncle Sam’s good graces? It’s easier than you think. All you have to do is read my new article titled Tax Tips: Reinstate Your … [Read more...]